Teacher Retirement System of Texas Sells 14,525 Shares of Medtronic PLC $MDT

Teacher Retirement System of Texas lessened its position in shares of Medtronic PLC (NYSE:MDT) by 2.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 519,000 shares of the medical technology company’s stock after selling 14,525 shares during the period. Teacher Retirement System of Texas’ holdings in Medtronic were worth $45,241,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Red Spruce Capital LLC boosted its holdings in shares of Medtronic by 0.5% during the second quarter. Red Spruce Capital LLC now owns 23,707 shares of the medical technology company’s stock worth $2,067,000 after acquiring an additional 118 shares during the period. Certior Financial Group LLC boosted its holdings in shares of Medtronic by 3.7% during the first quarter. Certior Financial Group LLC now owns 3,450 shares of the medical technology company’s stock worth $310,000 after acquiring an additional 122 shares during the period. Cidel Asset Management Inc. boosted its holdings in shares of Medtronic by 1.3% during the first quarter. Cidel Asset Management Inc. now owns 9,531 shares of the medical technology company’s stock worth $856,000 after acquiring an additional 126 shares during the period. PrairieView Partners LLC raised its position in shares of Medtronic by 3.6% in the second quarter. PrairieView Partners LLC now owns 3,726 shares of the medical technology company’s stock valued at $324,000 after buying an additional 128 shares in the last quarter. Finally, Motco raised its position in shares of Medtronic by 27.0% in the first quarter. Motco now owns 635 shares of the medical technology company’s stock valued at $57,000 after buying an additional 135 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on MDT shares. Citigroup lifted their price target on shares of Medtronic from $101.00 to $112.00 and gave the company a “buy” rating in a research report on Tuesday, October 7th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $111.00 price target on shares of Medtronic in a research report on Friday, October 10th. Robert W. Baird lifted their price target on shares of Medtronic from $94.00 to $96.00 and gave the company a “neutral” rating in a research report on Wednesday, August 20th. Wall Street Zen upgraded shares of Medtronic from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, The Goldman Sachs Group dropped their price target on shares of Medtronic from $82.00 to $81.00 and set a “sell” rating for the company in a research report on Wednesday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $102.82.

Insider Activity at Medtronic

In related news, Director William R. Jellison bought 2,500 shares of the firm’s stock in a transaction on Monday, August 25th. The shares were purchased at an average price of $92.37 per share, with a total value of $230,925.00. Following the completion of the purchase, the director owned 5,000 shares in the company, valued at $461,850. This represents a 100.00% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Harry Skip Kiil sold 8,605 shares of the business’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total transaction of $788,045.90. Following the sale, the executive vice president directly owned 35,615 shares in the company, valued at approximately $3,261,621.70. The trade was a 19.46% decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is owned by insiders.

Medtronic Stock Down 0.5%

Shares of MDT opened at $93.76 on Monday. Medtronic PLC has a one year low of $79.29 and a one year high of $99.37. The company has a market cap of $120.26 billion, a P/E ratio of 25.83, a P/E/G ratio of 2.47 and a beta of 0.78. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.01 and a quick ratio of 1.50. The firm has a 50 day simple moving average of $94.32 and a two-hundred day simple moving average of $89.42.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.23 by $0.03. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The business had revenue of $8.58 billion during the quarter, compared to the consensus estimate of $8.37 billion. During the same period in the previous year, the business earned $1.23 earnings per share. The company’s revenue was up 7.7% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Research analysts forecast that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 17th. Shareholders of record on Friday, September 26th were given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 3.0%. The ex-dividend date was Friday, September 26th. Medtronic’s payout ratio is currently 78.24%.

About Medtronic

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.